The Freenzi auction method is different
We bring more transparency to the process. As there is no commission or selling fee for the seller, this means there is a greater chance to obtain a best outcome for both buyers and sellers’ at the end of the auction. Why? Sellers do not need to allow for sales commissions to be added to their selling price to achieve their desired amount in the hand.
- If John and Sue need to get $500,000 in the hand, they may need to sell the property for over $523,000 through many traditional real estate agencies.
Buyers are indirectly paying the traditional sales commissions. Sellers take commission costs into consideration when considering the lowest price they will accept for their property. The service is free to Freenzi sellers, meaning there is no seller's commision to cover in the purchase price. A buyer can win through Freenzi, even after paying a basic Auction Success Fee which starts at $2,900 plus GST for purchases up to $500,000. Read the below charts for more information.
Read the information in the following image files about the Buyer registration, then click on the Property Seeker Registration link at the bottom of the page, if you are interested in a property
Note for the below overview:
1) Sellers have the right to reject or accept any bid, not neccesarily the highest bid. This decision is the seller's to make.
2) Some sellers may choose not to obtain certain property reports for their marketing. If they do obtain these, they are made available to the potential buyers
3) From 1 January 2019, real estate businesses will be subject to New Zealand’s anti-money laundering regime contained in the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 (the Act). This requires a potential buyer to provide their name and address, as well as proof of ID, such as a Driver's License
- Freenzi engages auction consultants to market properties towards the auction and work with the seller and buyer to achieve a ‘best outcome’
- Auction consultants are not licensed real estate agents. There are no negotiations to be involved in as the seller's solicitor states what conditions are a part of the auction bidding process, which buyers accept when they register.
- Auction consultants undertake home viewings for registered Property Seekers only
Are you interested in a Freenzi property?
Are you interested in any property Freenzi is marketing? Go to Contact us now to register your interest in becoming a Property Seeker? Go to the Property Seeker Registration page or phone 03 312 0497 or 0800 No Fees (0800 663 337) to speak to an auction consultant.